Report as of 16 Aug 2011

TUI Travel PLC TT.

Last Close
163.30p

Shares Issued
1,118,011,000

Listed Exchange
LSE FULL

Benchmark
FTSE 250, FTSE 350, FTSE All Share
0.3
0.3
0.3
0.3
0.2
0.2
0.2
0.2
0.1K

2006

2007
297.00
226.50

2008
281.50
169.40

2009
279.25
213.00

2010
308.40
190.00

08/11
271.90
155.00

Price Chart
Rel To Benchmark
Sector Average
52 Wk High/Low
/

Annual Price High

Annual Price Low

Share Stats
Market Cap
m
NMS
Shares In Issue m
(m)
Beta Volatility

Activities
Travel and tourism business

5 Year CAGR
Revenue
Pre-tax Profit
Norm EPS
DPS

%
4.75
-0.69
-

Relative Strength
1 Month
3 Months
6 Months
1 Year
Year End 30- Sep

%
-1.67
-25.01
-23.23
-22.01

3rd Quarter Results

Revenue
m
Pre-Tax
m
EPS
p
DPS
p
Growth
Revenue
Pre-Tax
EPS
DPS

%
%
%
%

Borrowings

Monthly Close

1,841
20,000
1,118
10p Ords
10.86
2009
8954.00
-411.00
-18.07
9.70

2010
8318.00
-563.00
-20.21
10.70

Latest
8981.00
-355.00
-21.20
11.00

2009
2.10
-39.65
25.46
64.41

2010
-7.10
36.98
11.88
10.31

Latest
7.97
-36.94
4.87
2.80

Total Debt
Due < 1 Yr
1-2 Yrs
2-5 Yrs
> 5 Yrs
Net Gearing
Gross Gearing
Cash
Interest Cover
Quick Ratio
Current Ratio

m
m
m
m
m
%
%
%
%
r
r

2008
1266.00
99.00
0.00
0.00
0.00
5.25
48.86
43.61
3.26
0.67
0.68

2009
1128.00
327.00
0.00
0.00
0.00
15.57
51.96
36.39
4.84
0.53
0.54

2010
1553.00
757.00
12.63
78.75
66.13
4.03
0.53
0.54

x
%
f
%
%
%
x
%
p
x
x
x

Co.
6.35
7.56
0.43
-104.21
2.00
14.68
3.38
12.63
-240.34
-0.69
3.53
0.14

Sector
11.27
4.04
0.68
47.53
12.14
8.57
8.19
78.66
1.64
-0.69
7.37
1.14

Market
10.81
4.12
0.45
61.13
10.55
25.59
9.81
52.94
2.25
0.50
12.55
2.49

Ratios
PER (pr)
DY (pr)
PEG (pr)
ROCE
Op. Margin
EPS Growth
EV/EBITDA
Net Gearing
NTAV PS
PTBV
PCF
PSR

Actual
Revenue
m
Non Domestic Market
m
EBITDA
m
EBIT
m
Operating Profit
m
Norm. Pre-Tax
m
Reported Pre-Tax
m
Norm EPS
p
Norm EPS Growth
%
Reported EPS
p
Reported EPS Growth
%
DPS
p
DPS Growth
%
Div Yield
%
Div Cover
x
Operating Margin
%
ROCE
%
ROE
%
PER
x
PEG
f
NAV PS
p
Cash Flow Per Share
p
CAPEX PS
p
Net Borrowings
m
Net Assets
m
Figures from 2007 in accordance with IFRS

2007
10,624
5,940
488
308
216
295
203
17.83
8.53
0.00
2.63
29.51
6.12
-142.53
59.72
7.46
237
2,631

2008
13,932
9,540
690
359
-184
280
-267
24.92
39.77
-24.40
5.90
4.22
2.44
348.28
8.43
-164.40
34.09
-6.31
136
2,596

2009
13,851
9,701
617
330
-5
242
-94
25.55
2.52
-4.80
9.70
64.41
2.63
1.96
-51.70
9.38
-229.52
19.69
6.59
338
2,174

2010
13,400
9,266
618
357
81
242
-36
17.22
-32.60
-7.80
10.70
10.31
6.50
1.61
2.00
-104.21
6.83
9.56
-0.29
-240.34
46.70
16.08
249
1,973

2011 Morningstar. All Rights Reserved. The information, data, analyses and opinions (Information) contained herein (1) include Morningstars confidential and proprietary information (2) may not be copied or redistributed,
(3) do not constitute investment advice (4) are provided solely for informational purposes (5) are not warranted to be complete, accurate or timely and (6) are drawn from fund data published on various dates. The information
is provided to you at your own risk. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and dont make
any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments can go up or down.

Forecast
2011
14,077
693
459
330
23.40
35.86
11.66
8.94
7.08
2.01
7.04
0.20
167.76
30.67
-

2012
14,439
740
487
392
26.31
12.42
12.57
7.84
7.63
2.09
6.26
0.50
176.97
41.36
-

Report as of 16 Aug 2011

TUI Travel PLC TT.

Last Close
163.30p

Shares Issued
1,118,011,000

Listed Exchange
LSE FULL

Benchmark
FTSE 250, FTSE 350, FTSE All Share
15.0
14.0
13.0
12.0
11.0
10.0
9.0
8.0K

2006

2007

2008

2009

2010

Performance Chart
Growth Of 10K

08/11

Directors Information
Shares 3m
Peter Long

ce

John Lundgren
William Waggott

cfo

Dr Volker Bottcher
Dr Michael Frenzel *

ch

Sir Mike Hodgkinson *

dch

3.15 m

Remuneration
Committee
2,491,000

Yr Chg %

1.21 m

1,606,000

-1.89

921.00 k

1,285,000

18.00

628.27 k

945,000

-6.34

-2.24

300,000

0.00

20.00 k

200,000

0.00

Clare Chapman *

10.00 k

65,000

0.00

Bill Dalton *

10.00 k

55,000

0.00

Dr Erhard Schipporeit *

55,000

0.00

Dr Albert Schunk *

55,000

0.00

Harold Sher *

55,000

0.00

Horst Baier *

55,000

Rainer Feuerhake *

55,000

0.00

55,000

0.00

Tony Campbell *

44.86 k

Minnow Powell *
Total
* Denotes non-executive director

6.00 m

7,277,000

7.53

Numis Securities Ltd

Exane BNP Paribas
The Royal Bank of Scotland NV
Shore Capital
Peel Hunt
Panmure Gordon
Charles Stanley
Charles Stanley Securities
Evolution Securities Ltd
Investec Securities
Consensus
1m Change
3m Change
Revenue Analysis
Geographical
France
Rest of the world
UK
Germany
Other Europe

Date
11/08/2011
09/08/2011
08/08/2011
05/08/2011
04/08/2011
02/08/2011
17/06/2011
13/07/2010
01/12/2009
01/05/2009

Latest %
9.80
5.41
30.85
27.64
26.30

Last %
9.65
5.63
29.96
27.10
27.66

EPS
24.20
22.85
23.40
22.41
22.50
25.68
-

2011
DPS Pre-Tax
350
11.40
335
11.60
405
11.50
422
11.30
400
11.60
410
12.84
432
515
330
-2
0

Product
Mainstream sector
Activity Sector
Specialist Sector
Accomodation & Destinations

EPS
22.80
27.40
25.40
27.30
25.65
26.60
29.03
32.56
23.40
+ 0.21
+ 0.24

Latest %
84.21
6.42
5.30
4.07

DPS
11.60
12.77
13.13
12.00
11.70
12.10
14.52
16.28
11.66
-0.04
-0.06

Last %
84.17
5.89
5.96
3.99

10/08/2012
10/05/2012
03/02/2012
03/02/2012
22/12/2011
02/12/2011
03/10/2011
30/09/2011
02/09/2011
31/08/2011

Major Shareholders
TUI AG
Montery Enterprises Ltd
Alliance Bernstein Investments LP
Marathon Asset Management LLP
Total
Advisers
Broker
Financial
Advisor
Auditor
Financial PR
Solicitor

Stake %
55.47
4.04
3.79
3.05
66.35

Deutsche Bank AG London

RBS Hoare Govett Ltd
Deutsche Bank AG London
Lazard & Co
KPMG
Hudson Sandler
Herbert Smith

Company Contact
Address

Detailed Broker Forecast

2010
Rec Pre-Tax
ADD
HOLD
187
BUY
358
BUY
363
HOLD
349
SELL
348
HOLD
387
-

Key Dates
Next Q3 announcement
Next interim announcement
Next AGM
Next Q1 announcement
Next annual report due
Next prelim announcement
Dividend Payment
Next year end (to be reported)
Dividend Record
Exceptional Dividend

E-mail
Phone
Fax
Website
Registrar
Registrar Telephone

TUI Travel House , Crawley

Business Quarter, Fleming
Way , Crawley, West
Sussex , RH10 9QL , United
Kingdom
(01293) 645 700
(01293) 645 704
www.tuitravelplc.com
Equiniti Limited
(0871) 384 2030

Latest News
10/08/2011 Confident of meeting expectations
15/07/2011 Acquisition of English Language Centre
York
14/07/2011 Completion of acquisition of Magic Life
Hotels
07/07/2011 Notice of Interim Management
Statement
22/06/2011 Result of General Meeting
09/06/2011 FTSE deletion
09/06/2011 FTSE addition
03/06/2011 Acquisition of TMS Gateway
26/05/2011 Proposed acquisition of Magic Life
18/05/2011 Pension agreement and refinancing

2011 Morningstar. All Rights Reserved. The information, data, analyses and opinions (Information) contained herein (1) include Morningstars confidential and proprietary information (2) may not be copied or redistributed,
(3) do not constitute investment advice (4) are provided solely for informational purposes (5) are not warranted to be complete, accurate or timely and (6) are drawn from fund data published on various dates. The information
is provided to you at your own risk. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and dont make
any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments can go up or down.